ECHION TECHNOLOGIES TO SUPPLY ITS XNO™ LI-ION BATTERY ANODE MATERIAL TO MORROW BATTERIES UNDER A MULTI-YEAR COMMERCIAL AGREEMENT

ECHION TECHNOLOGIES TO SUPPLY ITS XNO™ LI-ION BATTERY ANODE MATERIAL TO MORROW BATTERIES UNDER A MULTI-YEAR COMMERCIAL AGREEMENT

May 16, 2022 Industry 0

Deal will deliver next-generation sustainable batteries with market-leading safety, cycle-life, and charging speed

Echion Technologies, UK (‘Echion’) and Morrow Batteries, Norway (‘Morrow’), are pleased to announce the signing of a multi-year anode materials supply agreement. Echion’s unique XNO™ anode material will support the delivery of Morrow’s ‘LNMO-X’ core technology track, which offers safe, long-lasting, cobalt-free, fast-charging cells to the global lithium-ion battery market, and was publicly unveiled in February 2022. With this announcement, it is confirmed that the ‘X’ in LNMO-X refers to Echion’s XNO™ anode material. Under the agreement, Echion will supply up to 150 tons of its XNO™ anode materials to Morrow, with options for Morrow to secure further capacity over the next 5 years.

This represents a significant step for the European battery industry, demonstrating the ability of two of its most innovative players to scale-up and commercialise world-leading battery technologies. With Echion’s proven anode technology, Morrow secures a unique competitive advantage to differentiate in high value markets requiring outstanding safety, cycle-life, and fast-charging capabilities without compromising energy density.

As European industries take action to reach ‘net-zero’ by 2030, LNMO-XNO™ will be a key technology to accelerate the electrification of heavy-duty applications, including trains, ferries and AGVs. Thanks to Echion’s XNO™, Morrow’s customers will benefit from market-leading fleet and vehicle-level total cost of ownership.

Morrow’s cell production capability is quickly ramping up, supported by the Morrow Industrialisation Centre. Its cell manufacturing facility is already under construction in South Norway and will reach 43 GWh capacity at the end of 2024. With LNMO-XNO™, Morrow is taking a further step towards delivering the world’s most sustainable batteries. Echion CEO, Jean de la Verpilliere said, ‘We are delighted to be supporting Morrow with our XNO™ anode materials. We are pleased that Morrow sees the value and commercial advantages in our unique anode technology. Our material helps to achieve sustainable batteries through more efficient use of materials, improved safety and longer battery life’. He continued, ‘We are confident in our ability to supply high performance materials in large volumes to Morrow and are focused on delivering outstanding quality to our customers’.

For Morrow, CTO, Rahul Fotedar commented, ‘We are receiving great customer interest for the prismatic LNMO-XNO™ product, including ongoing joint development activities with one of the global giants in the field of industry and transportation. The technology’s ability to deliver competitive energy density at blistering charging speeds and long cycle life has the potential to unlock new application areas. Our cooperation with Echion is key to the scaling of this innovative battery product.’

ENDS

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Image caption: The Echion Technologies and Morrow teams. In the centre (left) is Jean de la Verpilliere, CEO of Echion and Dr. Andreas Maier, COO of Morrow (right).

About Echion Technologies LTD

After 6 years of development, Echion (Cambridge, UK) is proud to launch its XNO™ anode materials, now available at scale to cell manufacturers looking to build Li-ion cells with market-leading safety, cycle-life, and fast-charging capabilities. Echion XNO™ materials are based on proprietary mixed niobium oxide compositions and microparticle designs protected by 13 international patent families and are now being scaled-up to the multi-thousand tons/year production scale.

Our differentiated technology helps cell manufacturers gain a technical and commercial advantage in high-value, fast-growing markets where end-users require the safety, low total cost of ownership, and unique performance mix offered by our XNO™ anode materials. This includes industrial and commercial e-mobility markets: rail, marine, AGVs, mining trucks and other off-highway vehicles, opportunity-charging e-buses and other high-utilisation EV fleets. Our materials also provide a unique value proposition for the micro-battery market and specific applications for the ESS, motorsports, and medical, markets.

About Morrow AS

Morrow is building a highly cost-effective battery cell factory on the Battery Coast in the South of Norway with the aim to develop and industrialize new green and innovative battery technologies. Founded in 2020 by strong and committed owners, Morrow’s two leading investors are Agder Energi Invest, a wholly owned subsidiary of Agder Energi, and NOAH, a wholly owned subsidiary of Gjelsten Holding. Through a strong network of top-tier industrial leaders developing and manufacturing components for batteries, Morrow intends to open their 43 GWh factory and begin mass production of their first-generation product portfolio in 2024.

CONTACT INFORMATION:

Echion Technologies

For commercial queries:

Ben Ting, Commercial Director

Ben.ting@echiontech.com

For press and media:

Kelvin Bathe, Marketing Manager

Kelvin.bathe@echiontech.com

Ali White, Conscious Communications

Ali.white@consciouscomms.com

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